Memory Pharmaceuticals & Roche Expand Development Program for MEM 3454 in Sch...(tivity are two neurophysiological measur...),Health

In November 2007, Memory Pharmaceuticals announced positive Phase 2a data from a clinical trial of MEM 3454 in Alzheimer's disease. MEM 3454 demonstrated a statistically significant effect on cognition at the 5 mg and 15 mg doses on both the primary and key secondary endpoints for that trial. Roche has an option to a worldwide, exclusive license to develop and commercialize MEM 3454 upon the delivery by Memory of the study report of the Phase 2a AD study and the fulfillment of certain additional predefined events. Roche is obligated to make a milestone payment to Memory Pharmaceuticals at the time this option is exercised.

In December 2007, as part of the development program for MEM 3454 in schizophrenia, Memory Pharmaceuticals commenced a Phase 2a clinical trial of MEM 3454 in CIAS. To maintain its license to MEM 3454, Roche would have to make an additional milestone payment to the Company upon completion of the ongoing Phase 2a CIAS trial, which is expected to be completed in the fourth quarter of 2008.

Evoked Potentials in Schizophrenia

Electrophysiology measures have long been used to detect changes in brain activity in patients with schizophrenia. These patients often have a diminished ability to suppress the evoked response to the second of two auditory stimuli, which is known as sensory gating. A number of both preclinical and clinical studies have shown that this abnormality is genetically linked to the nicotinic alpha-7 receptor and can be measured through the P50 auditory evoked response, a positive waveform measured 50 milliseconds after an auditory stimulus. Recent scientific studies have shown that a nicotinic alpha-7 agonist can both improve cognition and improve P50 inhibition, giving rise to the possibility that P50 can be used to track cognitive effects for this class of compounds
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